Avinger Provides Update on Tigereye(TM) Commercial Launch

Rhea-AI Summary

Avinger, Inc. (NASDAQ:AVGR) has successfully launched the Tigereye CTO Crossing Catheters for treating Peripheral Artery Disease (PAD). Initiated in January 2021, the full commercial launch has reached 30 clinical sites with over 160 procedures completed. Revenue from Tigereye is projected to increase combined Lumivascular CTO revenue by approximately 60% for Q1 2021 compared to the previous year. The device's advanced imaging capabilities allow for safer and more effective interventions, reducing the need for more invasive procedures.

Positive

• Tigereye launched in 30 clinical sites with over 160 cases performed.
• Projected 60% increase in Lumivascular CTO revenue for Q1 2021 compared to the prior year.
• Innovative imaging technology enhances procedural outcomes and safety.

Negative

• None.

REDWOOD CITY, CA / ACCESSWIRE / April 8, 2021 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of Peripheral Artery Disease (PAD), today provided an update on the commercial launch of Tigereye CTO Crossing catheters for the treatment of PAD.

Following limited launch in the fourth quarter of 2020, Avinger initiated full commercial launch of Tigereye in January 2021. Tigereye has now been launched in 30 clinical sites with more than 160 cases successfully performed. Avinger territory sales managers have opened an average of 2.7 sites per person since launch. Tigereye revenue is expected to drive an approximately 60% increase in Avinger's combined Lumivascular CTO revenue for the first quarter of 2021 compared to the year-ago period.

Jeff Soinski, Avinger's President and CEO, commented, "The commercial launch of our Tigereye device is delivering consistent and compelling patient outcomes to a growing number of Avinger sites, now totaling 30 treatment facilities. Physicians are consistently, safely and effectively crossing complex CTOs using Avinger's Tigereye catheter, distinguishing our solution in the market. We believe the patient outcomes and commercial uptake of the Tigereye device demonstrate the clinical demand for this technology."

"Without an advanced technology like Tigereye, many patients with CTOs may require a high rate of repeat intervention or a surgical bypass or amputation," commented Dr. Ian Cawich, an interventional cardiologist at Arkansas Heart Hospital and a leading user of Tigereye. "In the case of a bypass or amputation, these far more invasive procedures can have serious risks and long-lasting consequences to patient quality of life. Tigereye's onboard image-guidance combined with a powerful CTO crossing mechanism offers an innovative approach for successfully traversing these challenging lesions and facilitates a minimally invasive and durable outcome for these patients."

The Tigereye CTO crossing system features high definition, real-time intravascular imaging and a user-controlled deflectable tip designed for steerability within the lumen. Tigereye also includes an enhanced distal tip configuration with rotational speeds up to 1000 RPM designed to penetrate challenging lesions. The Tigereye catheter has a working length of 140 cm and 5 French sheath compatibility to enable treatment of lesions in peripheral vessels both above and below the knee. Tigereye is complementary to Avinger's image-guided atherectomy line of catheters, including the Pantheris Next Generation and Pantheris SV catheters.

Avinger's proprietary Lumivascular technology allows physicians, for the first time ever, to see from inside the artery during an atherectomy or CTO crossing procedure by using an imaging modality called optical coherence tomography, or OCT, that is displayed on Avinger's Lightbox console. Physicians performing atherectomy or crossing CTOs with other devices must rely solely on X-ray and tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions, due to real-time OCT images generated from inside the artery, without exposing healthcare workers and patients to the negative effects of ionizing radiation.

About Avinger, Inc.

Avinger is a commercial-stage medical device company that designs and develops the first and only image-guided, catheter-based system for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot and Tigereye™ family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.

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Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our future performance, patient benefits of our products, including Tigereye, the development and regulatory of other products, including Lightbox 3, and our ability to expand into the CAD market. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include our dependency on a limited number of products; the resource requirements related to Pantheris, TIGEREYE and our Lightbox imaging console; the outcome of clinical trial results; as well as the other risks described in the section entitled "Risk Factors" and elsewhere in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2021. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Avinger disclaims any obligation to update these forward-looking statements.

Investor Contact:

Mark Weinswig
Chief Financial Officer
Avinger, Inc.
(650) 241-7916
ir@avinger.com

Matt Kreps
Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com

SOURCE: Avinger, Inc.

View source version on accesswire.com:
https://www.accesswire.com/639432/Avinger-Provides-Update-on-TigereyeTM-Commercial-Launch

FAQ

What is Avinger Inc.'s (AVGR) latest update regarding the Tigereye catheters?

Avinger has launched Tigereye CTO Crossing catheters in 30 clinical sites, achieving over 160 successful cases.

How much revenue increase is Avinger expecting from Tigereye in Q1 2021?

Avinger expects a 60% increase in combined Lumivascular CTO revenue for Q1 2021 compared to the prior year.

What technology does the Tigereye catheter use for treating PAD?

Tigereye catheter utilizes advanced intravascular imaging and a steerable tip for effective treatment of Peripheral Artery Disease.

When did Avinger launch the Tigereye catheters?

The full commercial launch of the Tigereye catheters began in January 2021.

What is the significance of Avinger's Lumivascular technology?

Lumivascular technology allows real-time imaging from inside the artery, enhancing the accuracy and safety of vascular procedures.